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Salim Ivomas Pratama Q4 profit falls YOY

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Salim Ivomas Pratama Q4 profit falls YOY

PT Salim Ivomas Pratama Tbk said its fourth-quarter normalized net income amounted to 15.06 rupiah per share, a decline of 28.3% from 21.00 rupiah per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 233.38 billion rupiah, a decline of 28.3% from 325.44 billion rupiah in the year-earlier period.

The normalized profit margin fell to 6.2% from 7.8% in the year-earlier period.

Total revenue declined 10.0% year over year to 3.775 trillion rupiah from 4.192 trillion rupiah, and total operating expenses declined on an annual basis to 3.298 trillion rupiah from 3.358 trillion rupiah.

Reported net income decreased 36.1% year over year to 190.12 billion rupiah, or 12.26 rupiah per share, from 297.69 billion rupiah, or 19.20 rupiah per share.

For the year, the company's normalized net income totaled 20.79 rupiah per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 25.36 rupiah.

EPS declined 59.3% from 51.03 rupiah in the prior year.

Normalized net income was 322.26 billion rupiah, a fall of 59.4% from 793.52 billion rupiah in the prior year.

Full-year total revenue declined 7.5% on an annual basis to 13.835 trillion rupiah from 14.963 trillion rupiah, and total operating expenses fell on an annual basis to 12.260 trillion rupiah from 12.482 trillion rupiah.

The company said reported net income declined 69.5% on an annual basis to 264.49 billion rupiah, or 17.06 rupiah per share, in the full year, from 865.82 billion rupiah, or 55.68 rupiah per share.

As of Feb. 26, US$1 was equivalent to 13,380 rupiah.